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SBM Bank to consolidate three branches

By Peter Theuri | October 3rd 2021
SBM Bank on Prudential Building along Mama Ngina Street. [Wilberforce Okwiri, Standard]

SBM Kenya will consolidate three of its branches and two express units to leverage on increased customer preference for digital banking.

The merger follows an internal assessment that identified branches that are in close proximity to each other and others where the footprint was lower due to migration of transactions to digital platforms.

“Currently, 82 per cent of our customers transact through alternate channels which include cards and mobile transactions enabled by digitisation,” said SBM Kenya Chief Executive Moezz Mir in a statement yesterday.

“Amidst the pandemic, more people are embracing technology and the use of hand-held devices for day-to-day activities. At SBM Bank Kenya we plan to leverage on the growing mobile usage in the country to offer digital products that will make banking for our customers more efficient and convenient.”

The three branches earmarked for merging are Lavington, Buru Buru and Kimathi alongside two express units in Limuru and Ngong. 

Each closing branch will be merged into an existing branch, ensuring continuity for customers, the bank said.  

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